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Minnesota Municipal Power Agency <br /> Statements of Revenues, Expenses and Changes in Net Position <br /> YTD June 30, 2017-Unaudited <br /> Operating revenues—power sales to members $ 51,303,118 <br /> Operating revenues—power sales to non-members 566,714 <br /> Total operating revenues 51,869,832 <br /> Operating expenses: <br /> Power acquisition expense 20,313,142 <br /> Transmission 7,919,293 <br /> Other operating expenses 11,510,013 <br /> Depreciation 6,747,484 <br /> Total operating expenses 46,489,932 <br /> Operating income(loss) 5,379,900 <br /> Nonoperating revenues(expenses): <br /> Amortization of premium on long-term debt,net 564,834 <br /> Interest expense (7,022,077) <br /> Investment income 567,787 <br /> Net change in the fair value of investments 121,257 <br /> Total nonoperating revenues(expenses),net (5,768,199) <br /> Change in net position before future recoverable costs (388,299) <br /> Future recoverable costs 1,864,765 <br /> Change in net position 1,476,466 <br /> Total net position,beginning of year 69,795,529 <br /> Total net position,June 30, 2017 $ 71,271,995 <br /> 113 <br />